Five EU states face ECJ over reinsurance rules

The European Commission has referred five member states to the European Court of Justice (ECJ) after they failed to fully implement the Reinsurance Directive, almost one year since the rules should have taken effect in each member state. Belgium, the Czech Republic, Greece, Poland and Portugal have all been referred to the ECJ for failing to notify the Commission of national transposition of the reinsurance laws, which introduced new minimum standards of regulation for reinsurance in each member state from 10 December 2007.